Global investment manager AllianceBernstein has made changes to its Asia Pacific leadership team ahead of current CEO Ajai Kaul's retirement.
Global head of institutions Michael Thompson has been appointed CEO, Asia Pacific, with Kaul set to retire at the end of 2025.
Taiwan CEO Derek Yung will take on the additional role of deputy CEO, Asia Pacific.
Thompson – who will relocate from London to Singapore in due course – will oversee the firm’s regional growth, client distribution, and strategy across the Asia Pacific region.
Yung, a 27-year veteran of AB, will support the continued growth and success of AB’s presence across the Asia Pacific markets.
Seth Bernstein, president and CEO of AB, said: “Mike and Derek both bring global client experience and operational success, making them exceptionally well-equipped to lead our Asia Pacific business.
“We thank Ajai for his extraordinary contributions to our firm over the last 32 years. I look forward to this new leadership building upon the strong foundation Ajai established, including expanding our presence across the region and serving a growing number of diverse clients.”
Kaul said: “It has been a tremendous honor to lead AB in the region. The unwavering focus on putting client interests first and the culture of collaboration have been central to our success.”
In a joint statement, Thompson and Yung said: “We’re honoured to assume leadership of AB’s Asia Pacific region at a pivotal moment.
“As we deepen our investment in these dynamic markets – alongside our people and technology – we will focus on unlocking opportunities for growth and innovation.”
